The International Securities Exchange (ISE) said today that options on the Standard & Poorâs MidCap 400 Index (MID) will be listed for trading on Tuesday, May 25, 2004 in bin 7 on a March expiration cycle with position and exercise limits of 45,000 contracts. Timber Hill LLC, a unit of Interactive Brokers LLC, is serving as the Primary Market Maker (PMM).

This marks the third index options product listed on ISE. The Standard & Poorâs MidCap 400 is one of the most widely used indexes for mid-sized companies. The Standard & Poorâs MidCap 400 covers approximately 7% of the U.S. equities market, and is part of a series of Standard & Poorâs U.S. indices that can be used as building blocks for portfolio construction.

âISE continues to move forward with its plans to bring competitive, liquid markets to index options. We are pleased to make the Standard & Poorâs MidCap 400 Index available for trading, and look forward to listing more index products,â said Bruce D. Goldberg, ISEâs Senior Vice President of Marketing.

ISE listed its first index option, the Standard & Poorâs SmallCap 600 (SML), on October 3, 2003, and its second index options, the Morgan Stanley Technology Index (MSH) on April 1, 2004.